08/07/2014

Help communities to thrive and prosper.

A strong local economy is fundamental to the viability of our communities.  In Ontario, many communities, workers and families are facing significant economic challenges, especially in regions where established industries such as automotive, manufacturing, and resource-based industries are struggling.

Local economic development initiatives help transform communities so that they can attract business investment in today’s globally competitive environment.  Through these programs, communities are able to create the conditions that allow businesses to grow and offer jobs, and cultivate continued economic stability and growth.

Healthy local economies also allow governments to pursue social and environmental goals that support a good quality of life.  In turn, that further helps attract businesses and investment that create jobs.  In this way, strategic economic development investments can serve both business and residents over the long-term.

By its nature, community economic development is local.  But while municipalities play the lead, success requires cooperation between governments, businesses, and residents.

The 2014 provincial budget has committed to creating a $2.5 billion Jobs and Prosperity Fund.  Municipalities across the province will want to see that this fund helps attract and bolster business investments to a wide variety of industries within Ontario’s communities.

AMO members continue to look for economic development initiatives that are coordinated, consider local needs, and allow our communities to invest for success.